Sunday, January 08, 2017 4:17:37 PM
If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, Nasdaq will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements.
Thereafter, if such a company does not regain compliance with the bid price requirement a second 180-day compliance period may be available. A company listed on the Nasdaq Capital Market may be eligible for an additional 180-day compliance period if it meets the market value of publicly held shares requirement for continued listing, all other initial inclusion requirements for the Capital Market, except for the bid price requirement, and provides written notice that it intends to regain compliance with the bid price requirement during the second 180-day compliance period, by effecting a reverse stock split if necessary.
Similarly, if a company listed on the Nasdaq Global Select Market or Global Market company is unable to comply with the bid price requirement prior to the expiration of its 180-day compliance period, it may transfer to the Nasdaq Capital Market, so as to take advantage of the additional compliance period offered on that market. Such a company must meet the $1 million market value of publicly held shares requirement for continued listing, and all other requirements for initial listing on the Nasdaq Capital Market (except for the bid price requirement), and provide written notice that it intends to regain compliance with the bid price requirement during the second 180-day compliance period, by effecting a reverse stock split if necessary. If a company does not indicate its intent to cure the deficiency, or if it does not appear to Nasdaq that it is possible for the company to cure the deficiency, the company will not be eligible for the second compliance period.
A Nasdaq Global or Global Select Market company that is in the Hearings Process for the minimum $1.00 bid price requirement can submit a transfer application ONLY if it meets the continued listing requirement for market value of publicly held shares and all other initial listing criteria (except initial bid price) for the Capital Market. If the application is approved, the company's securities will be transferred to the Capital Market. The company will be granted the balance of the second 180-day compliance period to resolve its $1.00 bid price deficiency.
If a company is unable to resolve its bid price deficiency during the applicable compliance period, Nasdaq Staff will issue a delisting letter. At that time, the company may request a hearing before a Hearing Panel, which will stay the delisting.
The company will have the opportunity to present its plan to regain compliance to the Panel. This plan of compliance should include implementation of a reverse stock split in the near term. In appropriate cases, and so long as a company commits to implementation of a reverse split within 180 days of the delisting notification, Panels may also consider other factors, such as the company's fundamental financial strengths and weaknesses, the overall market, the company's historical bid price, and impending disclosures, corporate actions and strategic business plans that the company believes may impact its bid price.
Recent NHWK News
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/07/2024 04:15:18 AM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 05/03/2024 08:00:06 PM
- Form S-1 - General form for registration of securities under the Securities Act of 1933 • Edgar (US Regulatory) • 05/03/2024 11:18:12 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/02/2024 12:00:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 04/30/2024 12:00:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 04/29/2024 12:10:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 04/22/2024 09:00:14 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 04/01/2024 08:52:07 PM
- Scorpius Holdings Awarded Contract in Excess of $1 Million with NIH-Funded Researcher at a Major University • GlobeNewswire Inc. • 03/19/2024 12:30:00 PM
- Scorpius Holdings Accepted as a Member of the US Government’s BioMaP-Consortium • GlobeNewswire Inc. • 03/14/2024 12:30:00 PM
- Form 8-A12B/A - Registration of securities [Section 12(b)]: [Amend] • Edgar (US Regulatory) • 03/13/2024 10:17:04 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/13/2024 10:01:13 AM
- Scorpius Holdings, Inc. Announces Closing of Public Offering • GlobeNewswire Inc. • 03/12/2024 09:00:59 PM
- Scorpius Holdings, Inc. Announces Pricing of Public Offering • GlobeNewswire Inc. • 03/08/2024 05:20:00 AM
- Scorpius Holdings, Inc. Announces Proposed Public Offering of Common Stock • GlobeNewswire Inc. • 03/07/2024 09:18:08 PM
- Scorpius Holdings Estimates Greater than 375% Sequential Increase in Revenue for the Fourth Quarter of 2023 Compared to the Third Quarter of 2023 • GlobeNewswire Inc. • 03/07/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/06/2024 02:34:04 PM
- NightHawk Biosciences Completes Name Change to Scorpius Holdings; Trading to Commence Under “SCPX” Effective at the Market Open Today • GlobeNewswire Inc. • 02/06/2024 01:00:00 PM
- NightHawk’s Scorpius BioManufacturing Subsidiary Announces the Promotion of Joe Payne to President and Chief Operating Officer • GlobeNewswire Inc. • 02/01/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/30/2024 01:00:09 PM
- NightHawk Receives Proceeds of $3.25 Million in Connection with Sale of Non-Core Intellectual Property and Issuance of a Low Interest Bearing Note • GlobeNewswire Inc. • 01/30/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 09:30:14 PM
- NightHawk’s Scorpius BioManufacturing Subsidiary Awarded Multimillion- Dollar Contract with a Publicly Traded Biotech Company to Support its Phase 2 Clinical Program • GlobeNewswire Inc. • 01/25/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/22/2024 01:00:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/16/2024 01:30:09 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM